Top Brokers For Active Traders
Thanks to improved technology, market size and business competitiveness, companies have been able to embrace more independence and responsibilities. As a result, more equity has become the way for companies to expand leading to the creation of stocks/shares. This has made trading to be a lucrative venture.
To ensure that your hard earned money is not lost, you need to work with a trustworthy brokerage firm. Some of our favorite brokers include TC2000, Interactive Brokers and TradeStation. We at Warrior Trading also like to use Finviz as a reliable scanning software that is free to everyone.
Here is what makes the above companies the right choice for traders.
Advanced Trading Platforms
TC2000, Interactive Brokers and TradeStation offer advanced trading platforms which are optimized for speed and efficiency and ideal for day trading. For starters, the web trader platform is designed with cutting edge technology.
Not only is it responsive allowing traders to access the platform on a wide range of devices include smart devices but it is easy to navigate too. It has a clean and simple interface. To prevent unauthorized access, the platform works from behind an enterprise grade firewall designed to prevent intrusion and safeguard traders’ accounts.
The companies offer a wealth of advanced trading tools that provide support to help traders (novice and experienced alike) to discover and implement optimal trading strategies for better success. You can create simple and complex multi leg option orders. These can be based on your own price and volatility forecast.
No other broker can offer you low commissions and financing rates like TC2000, Interactive Brokers and TradeStation do. Thanks to this, traders are able to generate higher returns. Since most brokers trade against orders or sell them for others to execute, this results in poor execution costing your more.
This is way more than the commission you would often pay. To achieve higher returns, the platform searches and reroutes signals allowing you access to best available prices for options, stocks and others.
Don’t forget the lowest margin rates. All three companies use internationally recognized benchmarks on overnight basis. This is done to determine the amount of interest rates. It is applied to a spread around the benchmark interest rate leading to larger cash balances receiving better rates finally determining the effective rate.
Gateway To World Markets
As a serious trader and investor, it is important to diversify your portfolio. You don’t want to concentrate your efforts to one or two markets only limiting yourself in terms of investment options. It is wise to take advantage of other markets where your money can work for you and earn you huge profits.
Furthermore, you can trade with a wide array of assets which include stocks, options, futures, forex, bonds, CFDs and ETFs. All these can be accessed via the intuitive dashboard available on the trader’s account. TC2000, Interactive Brokers and TradeStation allow traders to have access to over 100 markets around the world.
Access to market data is provided 24 hours a day, six days a week. You don’t have to worry about currency conversion. The platforms allow you to convert currencies at market determined rates. You can even fund your account with multiple currencies including US dollars, British Sterling Pounds and Euros among others. All the above are achievable via your single account only.
Comprehensive Reporting Tools
Traders have access to comprehensive reporting tools that allow each broker to create and print reports ready for independent analysis. Account holders can run and customize activity statements too. This allows one to view detailed account activity which include cash balances, deposits and other transactions. Brokers can create reusable statements containing information that is useful for certain decision making processes.
The reports can be compiled and downloaded via different file formats. They include text, PDF, CSV and XML among others. They can be opened with standalone programs and apps on the PC and tablet. Brokers can also create specialized reports for example client summary and broker exception among others.
Let’s face it; no individual is willing to trust their money with a company or group of brokers they are not familiar with. They fear the high chances of losing the money. This is not so with TC2000, Interactive Brokers and TradeStation.
All three trading companies have developed a risk management feature that allows brokers and traders to quickly identify exposure to risk at the portfolio level. This enables experts to further access the deeper levels of details allowing better decisions to be made.
The risk management feature allows users to view their entire risk in a single number. This is the same with monitoring of the total and direction of risk taken. Users can view portfolio risk for multiple asset classes and assess. They can also create custom scenarios using a wide range of variables that affect your risk profile.
Thanks to the risk management and control feature, traders can determine which asset to invest in and which not to. However, they don’t have chat rooms for traders to join and share ideas which would help new traders and veterans alike.